Newest Rating: Standard Chartered (LON:STAN) Is Now Covered By One More Research Firm

November 29, 2016 - By Peter Erickson

Why Credit Suisse Gives Standard Chartered (LON:STAN) GBX 515.00 Price Target

Stock research analysts at Credit Suisse initiated coverage on Standard Chartered (LON:STAN) with a “Underperform” rating. The target price for STAN is exactly GBX 515.00. It gives a potential downside of -18.38% from firm’s close price.

Standard Chartered PLC (LON:STAN) Ratings Coverage

Out of 28 analysts covering Standard Chartered PLC (LON:STAN), 10 rate it a “Buy”, 11 “Sell”, while 7 “Hold”. This means 36% are positive. GBX 1300 is the highest target while GBX 330 is the lowest. The GBX 615.53 average target is -2.49% below today’s (GBX 631.24) stock price. Standard Chartered PLC has been the topic of 191 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock of Standard Chartered PLC (LON:STAN) has “Underperform” rating given on Thursday, August 13 by Jefferies. Societe Generale maintained it with “Hold” rating and GBX 575 target price in Wednesday, January 13 report. The company was maintained on Wednesday, November 2 by Societe Generale. The company was maintained on Wednesday, October 14 by Bernstein. On Wednesday, November 25 the stock rating was maintained by Berenberg with “Hold”. Haitong Securities maintained the stock with “Buy” rating in Tuesday, April 26 report. The stock of Standard Chartered PLC (LON:STAN) has “Neutral” rating given on Wednesday, February 10 by Nomura. The rating was maintained by Deutsche Bank on Thursday, June 30 with “Sell”. The rating was maintained by UBS with “Sell” on Tuesday, October 18. Nomura maintained it with “Neutral” rating and GBX 1055 target price in Wednesday, August 12 report.

The stock increased 0.20% or GBX 1.24 on November 29, hitting GBX 631.24. About 6.61M shares traded hands. Standard Chartered PLC (LON:STAN) has risen 14.11% since April 29, 2016 and is uptrending. It has outperformed by 8.85% the S&P500.

Standard Chartered PLC is an international banking company. The company has a market cap of 20.69 billion GBP. The Bank provides personal banking, business banking, wealth management, Islamic banking and online banking services. It currently has negative earnings. The Company’s divisions include Corporate and Institutional clients, Commercial Clients, Private Banking Clients and Retail Clients.

More notable recent Standard Chartered PLC (LON:STAN) news were published by: Bloomberg.com which released: “Standard Chartered Said to Cut 10% of Investment Banking Staff” on November 28, 2016, also Wsj.com with their article: “Standard Chartered Shares Drop as Earnings Disappoint” published on November 01, 2016, Bloomberg.com published: “Standard Chartered Surges as Impairment Drop Shows Progress” on August 03, 2016. More interesting news about Standard Chartered PLC (LON:STAN) were released by: Wsj.com and their article: “Standard Chartered to Close Private-Equity Unit” published on November 04, 2016 as well as Wsj.com‘s news article titled: “Standard Chartered Faces US Probe Over Indonesian Investment” with publication date: September 27, 2016.

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